Google's Schmidt: Mobile Web Advertising at Tipping Point

After 10 years of over-hype, Eric Schmidt says, the mobile web is about to take off–and so is mobile web advertising.

“It’s the recreation of the Internet, it’s the recreation of the PC (personal computer) story and it is before us — and it is very likely it will happen in the next year,” Schmidt told a panel at the World Economic Forum. (Reuters)

Schmidt dismissed a Forrester prediction of under $1 billion in mobile ad revenue 2012 as too low. He said location-based advertising–directing you to a restaurant nearby, etc.–would be “a very, very good business.”

It will certainly be a better business than the usual mobile advertising example–walk by a store, get a “special offer!” texted to your phone. All that business would do is result in phones being hurled at stores.

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